I have two words for you, "Bull" and "Shit"
From Mt Gox Bitcoin Exchange press release
Non-technical Explanation:
A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. MtGox is working with the Bitcoin core development team and others to mitigate this issue.
You should probably not try to BS your way through a subject on the internet. If you do GOOGLE is not your friend.
For clarity here, again - the bitcoin system was not hacked or breached. What happened with MtGox is basically a very advanced combination hack against their system.
This hack was a combination of:
* Social engineering against MtGox in the way transactions were handled to cause the same transaction to be sent multiple times.
* Technical, timing sensitive “hack” to change certain aspects of transactions *before* the transaction was committed to the block chain.
MtGox was basically using certain mutable elements of in-flight transactions to speed up the process of transaction management instead of looking for the transaction to be included in the block chain with multiple confirmations. With any of the crypto currencies, it is intended to wait for at least 6 confirmations after a transaction has been included into the block chain to consider the transaction to be complete and immutable, particularly with any high-risk transaction.
MtGox’s losses were not truly the result of bugs in the software, but bugs in their process.